Daily Term SOFR Loan definition

Daily Term SOFR Loan means a Swingline Loan that, except as otherwise provided in Section 2.11, bears interest at the Daily Term SOFR Rate.
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Daily Term SOFR Loan means a Swingline Loan that, except as otherwise provided in Section 2.08(b), bears interest at the Daily Term SOFR Rate.
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Daily Term SOFR Loan means a Loan that bears interest at a Daily Term SOFR rate. “Days Sales Outstanding” means, as of any day, an amount equal to the product of (x) 91, multiplied by (y) the amount obtained by dividing (i) the reported aggregate Unpaid Net Balance of Receivables as of the most recent Cut-Off Date, by (ii) the aggregate Net Revenues generated by the Originators during the three calendar months including and immediately preceding such Cut-Off Date. “Deemed Collections” means Collections deemed received by the Borrower under Section 3.4. “Default Rate” means a rate per annum equal to the sum of (i) the Alternate Base Rate plus (ii) 2.00%, changing when and as the Alternate Base Rate changes. “Default Horizon Ratio” means, as of any Cut-Off Date, the ratio (expressed as a decimal) computed by dividing (i) the aggregate amount of Net Revenues generated by the Originators during the five months ending on such Cut-Off Date, by (ii) the Net Pool Balance as of such Cut-Off Date. “Default Ratio” means, as of any Cut-Off Date, the ratio (expressed as a percentage) computed by dividing (i) the total amount of Receivables that became Defaulted Receivables (151-180
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Examples of Daily Term SOFR Loan in a sentence

  • Determination of amounts payable under such Sections in connection with a Term SOFR Loan or Daily Term SOFR Loan shall be calculated as though each Lender funded its Term SOFR Loan and the Swing Line Lender funded its Daily Term SOFR Loan through the purchase of a deposit of the type and maturity corresponding to the deposit used as a reference in determining the Term SOFR Rate or Daily Term SOFR Rate applicable to such Loan, whether in fact that is the case or not.

  • If any portion of the Loan is already outstanding as a Term SOFR Loan, such portion shall, commencing immediately after the end of the then current Interest Period, bear interest at the Reference Rate plus the Margin; provided, that if the Loan is already outstanding as a Daily Term SOFR Loan, the same shall be converted to the Reference Rate plus the Margin immediately.

  • If any Interest Period for a Term SOFR Loan ends less than one (1) calendar month prior to the Maturity Date, that portion of the Loan with shall convert to a Daily Term SOFR Loan, at Agent’s election, immediately after the end of such Interest Period.

  • No more than two (2) Term SOFR Loans may exist for which Term SOFR has been selected with respect to portions of the outstanding Loan under the Loan Agreement and the Note and no more than one (1) Daily Term SOFR Loan may be outstanding at any time under the Agreement and the Note.

  • Resource intensity is usually expressed as a ratio of materials used per value (ie.

  • All conversions and continuations of the Loan and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of each Term SOFR Loan or Daily Term SOFR Loan shall be at least equal to $500,000.


More Definitions of Daily Term SOFR Loan

Daily Term SOFR Loan means the Loan at any time in which the Applicable Interest Rate thereon is calculated based on Daily Term SOFR plus the Margin.
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Related to Daily Term SOFR Loan

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Three-Month Term SOFR means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Rate Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions. All percentages used in or resulting from any calculation of Three-Month Term SOFR shall be rounded, if necessary, to the nearest one-hundred-thousandth of a percentage point, with 0.000005% rounded up to 0.00001%.

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “Floating Interest Period”, timing and frequency of determining Three-Month Term SOFR with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Company decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively feasible or if the Company determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Company determines is reasonably necessary).

  • Term SOFR Loan means a Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Term SOFR Rate means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator.

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Initial Term Lender means any Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Additional Term Lender means any Lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan.

  • Adjusted Term SOFR Rate means, for any Interest Period, an interest rate per annum equal to (a) the Term SOFR Rate for such Interest Period, plus (b) 0.10%; provided that if the Adjusted Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes of this Agreement.

  • New Term Loan shall have the meaning provided in Section 2.14(c).

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • ABR Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c).

  • Tranche B Term Loan as defined in Section 2.1.

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Term SOFR Rate Loan means a Loan that bears interest based on Term SOFR Rate.

  • Base Rate Term Loan means any portion of a Term Loan during any period in which such portion bears interest based on the Base Rate.

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Original Term Loans shall have the meaning assigned to such term in Section 2.23(a).

Most Referenced Clauses

Most Referenced Definitions